• EUR/AUD declined on Thursday as drops was-assisted by Australian dollar strength.
• Australian dollar attained a bid tone as investors made position adjustments ahead release of the U.S. Labor Department's jobs report for September..
• EUR/AUD remains below 1.6633( 30 DMA),daily close below 50%fib will increase the scope for much bigger drop.
• Technical signals are bearish as RSI is at 48, momentum studies 11, 21 and 30 DMAs are trending down.
• Strong resistance is located at 1.6633( 30 DMA), any close above will push the pair towards 1.6668 (38.2% fib)
• Immediate support is seen at 1.6557 (50% fib) and break below could take the pair towards 1.6463 (Oct 3rd low).
Recommendation: Good to sell around 1.6550, with stop loss of 1.6650 and target price of 1.6430
